Lendesk Technologies, a Vancouver-based FinTech provider for Canada’s mortgage professionals, and a part of Detroit’s Rocket Cos.’, announced a partnership with Intellifi and Strive to streamline the lending experience for Canadian mortgage professionals — brokers and lenders alike.
With this new technology, mortgage brokers can now digitally submit client documents directly from Lendesk’s digital mortgage platform, Finmo, to partner lenders via Intellifi. This solution will help simplify the fragmented, antiquated process used by nearly all Canadian lenders by providing a faster turnaround time for brokers and their clients. Strive will be Lendesk’s first lender to adopt the new, simplified method.
“Finmo has been an industry leader in client document management since the creation of Smart Documents,” says Carter Zimmerman, president of Lendesk. “The addition of this unified and automated document submission to lenders helps brokers securely and efficiently transfer files to the underwriter, adding convenience and streamlining the process while also significantly reducing the potential for fraud.”
Traditionally, Canadian mortgage brokers have not had an efficient way to submit an applicant’s document to lenders, relying on manually collecting the paperwork and sending via unencrypted email. Now, through this collaboration, brokers will enjoy a safer, faster process when submitting clients’ home loan documents, saving time through automation.
This technology enables brokers to continue offering a secure, digital experience for their clients while adding a layer of protection when sending sensitive files.
“At Intellifi, we constantly innovate and invest in our platform to match the ever-changing digital lending landscape,” says Derek Cook, vice president and managing director of residential technology at Intellifi. “This is yet another example of working closely with our partners to help identify and create next-generation digital solutions that enhance the client and underwriter experience.”
Lenders that are part of Lendesk’s network now have access to the transparency and simplification that comes with an automated document categorization, helping to speed up funding approval. Through this technology, lenders can identify the individual who uploaded the document file, eliminating the need to manually process and identify the source of submissions.
“Since inception, Strive has been committed to creating solutions aimed at simplifying the mortgage process for brokers and customers,” says Marty Frenette, president and CEO of Strive. “Not only do these solutions enhance the end experience, they also provide significant efficiency benefits for us as a lender. Our collaboration with Lendesk and Intellifi on direct document submission is based on a mutual commitment to this mission.”
In 2023, Lendesk will be expanding the new automated loan document submission, offering to any lender partner that wishes to participate.
Lenders interested in joining the next phase of lender onboarding should reach out to Intellifi at marketing@intellifi.ca or Lendesk, at marketing@lendesk.com.
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